Franklin Templeton Buying Legg Mason To Create $1.5trn Asset Management Giant
February 19, 2020 at 07:45 AM EST
Franklin Resources (BEN) – the parent company of Franklin Templeton – announced that it is buying rival asset management firm Legg Mason (LM) for $4.5bn cash, in a deal that will see it take on around $2bn of Legg Mason’s debt.